Ethiopia-Economy

Ethiopia remits $3.8bn in nine months

APA-Addis Ababa (Ethiopia)

Ethiopia has secured $3.8 billion in remittance over the last nine months of the current Ethiopian budget year which began on July 8, 2021, the Ethiopian Diaspora Agency has said.

Announcing its nine-month report, the agency said the nation is on track to amass the four billion US dollars set for the budget year.

 

With the help of various initiatives to encourage the use of legal channels and follow up, the agency says Ethiopians in the Diaspora have sent $3.8 billion in the last nine months.

According to the agency, about 6,000 Ethiopians living abroad have deposited $5.05 million in foreign currency accounts.

The Agency also said it has raised over $26.8 million support in kind and cash from members of the Diaspora during the nine month period for the construction of the GERD through donations and bond purchase.

Additional $15.2 million in cash and $6.3 million in kind have also been raised to support rehabilitation efforts of various infrastructures affected by the conflict, according to the agency.

Overall, the agency says the activities and the achievements registered over the course of the past nine months are commendable and encouraging.


MG/abj/APA

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